HAMBURG: Pakistan’s state trading agency TCP has purchased 100,000 tonnes of white sugar in a tender for the same volume which closed last week, European traders said on Monday.
It was all bought at $526.80 tonne c&f from Al Khaleej Sugar (AKS), which was the lowest offer submitted in the tender.
Rapid shipment was sought in the tender with shipment of the first 25,000 tonnes being undertaken in only 15 days plus voyage time after contract award and the rest following weekly in stages.
The sugar was sought from worldwide origins packed in bags.
Pakistan’s government in 2020 approved sugar imports to meet a shortage and cool local prices as production fell below consumption levels.
